International Business Strategy
Test Preparation
Course Introduction
International Business Strategy explores the frameworks, concepts, and tools essential for formulating and implementing business strategies in a global context. The course analyzes how multinational enterprises navigate diverse economic, political, and cultural environments, addressing topics such as competitive advantage, global market entry strategies, cross-border alliances, risk management, and international organizational structures. Through case studies and real-world examples, students gain insight into strategic decision-making for growth, adaptation, and sustainability in the interconnected global marketplace.
Recommended Textbook
Crafting and Executing Strategy Concepts and Cases 22nd Edition by Thompson Jr
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12 Chapters
1434 Verified Questions
1434 Flashcards
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Page 2
Chapter 1: What Is Strategy and Why Is It Important?
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Why is it appropriate to argue that good strategy-making combined with good strategy execution are valid signs of good management?
Answer: Crafting and executing strategy are core management functions. Among all the things managers do, nothing affects a company's ultimate success or failure more fundamentally than how well its management team charts the company's direction, develops competitively effective strategic moves and business approaches, and pursues what needs to be done internally to produce good day-in, day-out strategy execution and operating excellence.
Q2) Amy's Drive-Thru, a fast food facility, offers healthy, sustainably grown veggie and vegan fast food at higher prices than its competitors in the market and has a drive-through and indoor seated casual dining operation. What strategy is Amy's Drive-Thru using to gain competitive advantage?
A)a low-cost provider strategy
B)a broad differentiation strategy
C)a focused low-cost strategy
D)a differentiation strategy
E)a best-cost provider strategy
Answer: D
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Chapter 2: Charting a Companys Direction
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116 Verified Questions
116 Flashcards
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Sample Questions
Q1) Corporate strategy for a diversified or multibusiness enterprise
A)is orchestrated by mid-level managers and focuses on how to create a competitive advantage in each specific line of business the total enterprise is in.
B)concerns how best to allocate resources across the departments of each line of business the company is in.
C)is orchestrated by senior corporate executives and centers around the kinds of initiatives the company uses to establish business positions in different industries.
D)deals chiefly with what the strategic intent of each of its business units should be.
E)involves how functional strategies should be aligned with business strategies in each of the various lines of business the company is in.
Answer: C
Q2) A well-conceived strategic vision helps prepare a company for the future.Explain and justify your answer.
A)True
B)False
Answer: True
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4
Chapter 3: Evaluating a Companys External Environment
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137 Verified Questions
137 Flashcards
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Sample Questions
Q1) A rival's strategic moves and countermoves are
A)indicators for the visualization of strategic mapping techniques.
B)enabled and constrained by the set of capabilities they have at hand.
C)measured by the extent to which they can unveil financial objectives.
D)responses to the broader definition of the industry opportunities.
E)signs of the competitive pressures from the industry.
Answer: B
Q2) The bargaining leverage of suppliers is greater when
A)the suppliers' products/services account for a small percentage of industry members' costs.
B)industry members incur low costs in switching their purchases from one supplier to another.
C)industry members account for a big fraction of supplier's sales.
D)there is extensive seller-supplier collaboration.
E)the supplier industry is composed of a large number of relatively small suppliers.
Answer: A
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Chapter 4: Evaluating a Companys Resources,
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127 Verified Questions
127 Flashcards
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Sample Questions
Q1) A company that has competitive assets that are central to its company strategy and superior to those of rival firms creates a
A)long-term derivative strategy.
B)cash flow feasibility analysis.
C)competitive advantage over other companies.
D)resource deployment strategic plan.
E)cost underestimation and benefit overestimation.
Q2) If you were asked to use a powerful analytical tool to size up Amazon's competitive assets and determine whether they can provide the foundation necessary for its competitive success in the marketplace, you would choose
A)VRIN tests.
B)SWOT analysis.
C)competitive strength matrix analysis.
D)financial and asset management analysis.
E)value chain analysis.
Q3) What would a deep look at the cost structure of Boll and Branch (Illustration Capsule 4.1), a manufacturer and online marketer of luxury linens, reveal?
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Page 6
Chapter 5: The Five Generic Competitive Strategies
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119 Verified Questions
119 Flashcards
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Sample Questions
Q1) In what market and competitive circumstances are focused low-cost and focused differentiation strategies not attractive?
Q2) A healthy fast-casual restaurant that offers only vegetarian and vegan meals insists on portraying organic ingredients in its advertisements, charges a higher price for its meals, and has a rigorous quality control process to insure the cleanliness of its facilities. What strategy is the manufacturer using to deliver superior value to customers?
A)incorporating tangible features
B)incorporating intangible features
C)signaling value by targeting sophisticated buyers
D)lowering the buyer's overall cost
E)leveraging its power over suppliers
Q3) From the list below, identify the company that is not the lowest-cost provider in its industry.
A)Southwest Airlines
B)Walmart
C)Nucor Steel
D)CNN
E)Amazon
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Chapter 6: Strengthening a Companys Competitive Position
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114 Verified Questions
114 Flashcards
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Sample Questions
Q1) What are the strategic advantages of a forward vertical integration strategy?
Q2) The difference between a merger and an acquisition relates to
A)strategy and competitive advantage.
B)the presence of available resources and competitive capabilities.
C)whether the end result is related to horizontal or vertical scope.
D)creating a more cost-efficient operation out of the combined companies.
E)the details of ownership, management control, and the financial arrangements.
Q3) For backward vertical integration into the business of suppliers to be a viable and profitable strategy, a company
A)must first be a proficient manufacturer.
B)must be able to achieve the same scale economies as outside suppliers and match or beat suppliers' production efficiency with no drop-off in quality.
C)must have excess production capacity so that it has an ample in-house ability to undertake additional production activities.
D)needs to have a wide product line, so it can supply parts and components for many products.
E)should have a distinctive competence in production process technology and at least a core competence in manufacturing R&D.
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Chapter 7: Strategies for Competing in International Markets
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132 Verified Questions
132 Flashcards
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Sample Questions
Q1) Explain why a company desirous of competing in foreign markets needs to pay careful attention to where it locates it value chain activities.
Q2) Discuss in some detail the difference between a multidomestic strategy and a global strategy. Give the pros and cons of each.
Q3) The most unlikely element of a localized multidomestic strategy is
A)granting country managers fairly wide strategy-making latitude
B)scattering plants across many host countries, each producing product versions for local area markets
C)adapting marketing and distribution to the buying habits, customs, and culture of each host country
D)considering the preference for local suppliers (use of some local suppliers may be mandated by host governments)
E)selling directly to buyers (perhaps via the company's website)to avoid having to establish networks of wholesale/retail dealers in each country market
Q4) What are the pros and cons of using strategic alliances to try to enhance a company's ability to compete in foreign markets?
Q5) Explain the importance of competing in emerging markets.
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Chapter 8: Corporate Strategy
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122 Verified Questions
122 Flashcards
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Sample
Questions
Q1) How would you explain the difference between a one-business company and a diversified company?
A)The first uses a business-level strategy, while the second uses a set of business strategies and a corporate strategy.
B)The first uses a business-level strategy, while the second uses a corporate-wide strategy.
C)The first uses an operating strategy, while the second uses a business-line strategy.
D)The first uses a functional strategy, while the second uses a business-line strategy.
E)The first uses a single-line strategy, while the second uses a multiline strategy.
Q2) What are the four main strategic paths that a diversified company can employ to improve the performance of its overall business lineup?
Q3) Identify and briefly discuss each of the three options for entering new businesses. What are the driving choice parameters for entry into new businesses and which one is the most popular in the sense of being used most frequently?
Q4) Discuss the pros and cons of a strategy of unrelated diversification.
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Chapter 9: Ethics, Corporate Social Responsibility,
Environmental Sustainability, and Strategy
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) An environmental sustainability strategy consists of a company's deliberate actions to
A)operate in an honorable manner, provide good working conditions for employees, and actively work to enhance the quality of life in the local communities where it operates and in society at large.
B)meet the current needs of customers, suppliers, shareholders, employees, and other stakeholders in a manner that protects the environment, provides for the longevity of natural resources, maintains ecological support systems for future generations, and guards against ultimate endangerment of the planet.
C)protect and enhance natural resources and ecological support systems, taking into account the current consumption for the current generation.
D)apply universal norms regarding the protection of the environment to its everyday operations and to function below the levels required by prevailing environmental regulations.
E)balance commonly held views about what constitutes environmentally appropriate actions against its ability to make a profit.
Q2) What is the case for why business strategies should be ethical?
Q3) Does a substantial difference exist between ethics and business ethics?
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Chapter 10: Building an Organization Capable of Good
Strategy Execution
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113 Verified Questions
113 Flashcards
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Sample Questions
Q1) How is a functional structure or unitary structure organized?
A)with a central executive handling all major decisions
B)to lighten the load of senior executives so they can concentrate on value chain action agendas
C)specifically to manage unrelated diversification opportunities
D)into functional departments, with departmental managers who report to the CEO and small corporate staff
E)with top-heavy management, and senior executives forming a central office of the chairman
Q2) Diversified companies striving to capture the benefits of synergy between separate businesses have to be aware of all of the following challenges EXCEPT
A)giving business-unit heads full rein to operate independently.
B)having pieces of strategically relevant activities and capabilities scattered across many departments, with each pursuing its own priorities, projects, and agendas.
C)centralizing performance of functions requiring close coordination at the functional level.
D)serving the interests of individual businesses and not the company as a whole. E)forming cross-business strategic fit by enforcing close collaboration.
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Chapter 11: Managing Internal Operations
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115 Verified Questions
115 Flashcards
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Sample Questions
Q1) A change in strategy nearly always entails budget reallocations because
A)revamping the performance of value chain activities can be costly.
B)the accompanying policy revisions and compensation incentives tend to require different levels of funding than before.
C)organizational units important in the prior strategy but having a lesser role in the new strategy may need downsizing, while units and activities that now have a bigger and more critical strategic role may need more people, new equipment, additional facilities, and above-average increases in their operating budgets.
D)empowering employees to carry out the new strategy elements typically requires substantial new funding and budget revisions.
E)adopting best practices and pushing for continuous improvement tends to reduce costs and reduce overall resource requirements.
Q2) How do Six Sigma quality control programs benefit the Charleston Area Medical Center, and what are two types of programs that they include?
Q3) Discuss the importance of and provide at least three examples of the strategic benefits of real-time information systems.
Q4) How has Wegmans created a strategy-supportive reward structure?
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Chapter 12: Corporate Culture and Leadership
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112 Verified Questions
112 Flashcards
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Sample Questions
Q1) Why is a company's corporate culture important?
A)It represents the integration of the strategy and business model that a company has adopted.
B)It influences the organization's actions and approaches to conducting business.
C)It guides core values and its internal code of ethics.
D)It influences the dedication to ethical conduct and accepted work practices.
E)It codifies formal traditions that company executives are committed to maintaining to ensure the company's strategy-supportive culture is change resistant.
Q2) Jason manages an auto dealership that is characterized by hostility to change, heavily politicized decision-making, insular thinking, unethical and greed-driven behaviors, and the presence of incompatible, clashing subcultures. These traits, individually and together, are indicative of what type of corporate culture?
Q3) Why was Goldman Sachs having trouble recruiting the best and brightest MBAs, finding itself competing for talent with high tech firms like Amazon, Google, and Facebook? What lessons can be learned about how culture impacts the strategy execution effort?
Q4) What are the distinctive features of high-performance corporate cultures?
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Page 14